Posted in Canada, Inflation, Monetary Policy, tagged Canada, Inflation, Monetary Policy, Trudeau on September 24, 2023| 9 Comments » I gave a speech last year in Sweden to explain that inflation was caused b
I was working in the Monetary Policy Section (all 3 or 4 of us) of the Reserve Bank’s Economics Department at the time but although there had been talk of floating for months (pretty much since the devaluation in July 1984) and real policy challenges around maintaining the fix, the actu...
Where Mr. Malpass gets his information, I haven’t a clue, but looking at the table of financial and trade statistics on the back page of the July 16 edition of the Economist, I see that in addition to the United States, Japan, Switzerland, Hong Kong, and Singapore, had 3-month rate...
The economy entered recession again in July 1981, and this proved to be more severe and protracted, lasting until November 1982. Unemployment peaked at nearly 11 percent, but inflation continued to move lower and by recession’s end, year-over-year inflation was back under 5 percent. In time...
Our study addresses the issue of monetary policy effects on global commodity prices in the context of China, which is now the second-largest economy in the world and one of the world's leading consumers and producers of commodities (Russell, 2023). Given this view, not only China's demand...
January 13, 2023.A ticking time bomb in the U.S. economy is running perilously close to detonation.Long considered a harbinger of bad luck, Friday, Jan. 13 came with a warning for Congress that the country could default on its debt as soon as June. ...
(Bouteska et al., 2023), and “monetary policy strategies conducted by the Federal Reserve have been subject to academic inquiry for a long time” (Dibooglu et al., 2020, p. 3). Third, although macroeconomists extensively studied the impact of different MPs for the real economic and ...
"The Governing Council decided to end net asset purchases under its asset purchase programme (APP) as of 1 July 2022," the ECB said in a statement released after a Governing Council meeting. As part of a package of non-standard monetary policy measures initiated in mid-2014, which are wide...
Perhaps by 2023 someone was asking questions (Treasury, or just possibly the Bank’s Board which actually became formally responsible for the governance of the Bank on 1 July 2022)? That 2023 Funding Agreement variation had already given the Bank a massive increase in permitted core operating ...
I did an interview with Mike Hosking this morning on monetary policy and inflation, against the backdrop of this afternoon’s Reserve BankMonetary Policy Statement.Where we differed seemed to be around wages. Hosking asked how did wage inflation get so high, contributing to the ongoing inflation...